Almost everybody has heard about the $7500 tax credit for first-time home buyers, but what about tax breaks for home sellers? Home sellers enjoy a tremendous tax benefit upon resale. Internal Revenue Code Section 121 authorizes an “exclusion” — escape from income taxes — for profits from home sales. The exclusion is as much as $500,000 for married couples who file joint returns, and $250,000 for single filers and couples who file separate returns. What happens, though, when the gain is greater than the exclusion ceiling of $500,000 or $250,000? Answer: The excess is taxed as a long-term capital gain at a maximum rate of 15 percent, plus applicable state taxes. The key requirement: Own and live in the property as your principal residence for periods aggregating at least two out of the five years ending on the sale date, and at least two years must have elapsed since you last used the exclusion.
For more information do not hesitate to contact me or visit my website @
www.longhilltownshiphomes.com
Showing posts with label stirling. Show all posts
Showing posts with label stirling. Show all posts
Wednesday, January 6, 2010
Wednesday, April 1, 2009
LONG HILL TOWNSHIP MARKET UPDATE - MARCH 2009
The following are the numbers for real estate in Long Hill Township for the month of March 2009:
March 2009
New Listings - 20
Under Contract - 5
Closed Sales - 3
Inventory is definitely picking up for the Spring market. Active inventory in Long Hill Township is currently at 63. Out of the 5 homes which went under contract in March, 2 were over $500,000. One of those homes was on Laura Drive. It was only on the market for 11 days before it went under contract. This home was priced nearly $90,000 less than the last sale on Laura Drive, which was in September 2008. 211 Sherwood Lane went under contract in March and also sold in March after 138 days on the market.
To search all active properties in Long Hill Township visit my website at www.longhilltownshiphomes.com. Please do not hesitate to contact me with any questions.
Dianne Sommers
Realtor Associate
March 2009
New Listings - 20
Under Contract - 5
Closed Sales - 3
Inventory is definitely picking up for the Spring market. Active inventory in Long Hill Township is currently at 63. Out of the 5 homes which went under contract in March, 2 were over $500,000. One of those homes was on Laura Drive. It was only on the market for 11 days before it went under contract. This home was priced nearly $90,000 less than the last sale on Laura Drive, which was in September 2008. 211 Sherwood Lane went under contract in March and also sold in March after 138 days on the market.
To search all active properties in Long Hill Township visit my website at www.longhilltownshiphomes.com. Please do not hesitate to contact me with any questions.
Dianne Sommers
Realtor Associate
Wednesday, November 19, 2008
OPEN HOUSE 11/23/08 1-4pm
Move right in to this beautifully updated home located on a quiet, dead end street. S/S appliances & granite counters in kitchen. Master bath with marble floor & granite counter. Hall bath with marble floor and marble counter. Fireplace in living room and a large family room with vaulted ceiling. Crown molding. 30 yr timberline roof (3yrs old). Beautiful home! Close to NYC trains & buses.
For more information, call my cell @ (908) 432-5721 or visit my website @ www.longhilltownshiphomes.com
Tuesday, November 20, 2007
Great NEW Price!
$875,000
Location, location, location!!!
Welcome to this beautiful brick front colonial which is located in one of Long Hill Township’s most sought after neighborhood…Stirling Ridge! This home offers a spacious, tiled entry and a large eat-in-kitchen with sliders to a deck overlooking a peaceful backyard. There is a cozy, sunken family room with a brick fireplace, formal dining room with chair rails and a sunken living room, both with beautiful hardwood floors. You have a large master bedroom with cathedral ceilings, 2 walk-in-closets and master bathroom with a relaxing soaking tub. Your full, finished basement has a large entertainment room and a custom wet-bar. There are two additional rooms for either an office, guest room or exercise room. Minutes from NYC trains!
For additional pictures and a virtual tour, visit my web-site at www.longhilltownshiphomes.com.
Location, location, location!!!
Welcome to this beautiful brick front colonial which is located in one of Long Hill Township’s most sought after neighborhood…Stirling Ridge! This home offers a spacious, tiled entry and a large eat-in-kitchen with sliders to a deck overlooking a peaceful backyard. There is a cozy, sunken family room with a brick fireplace, formal dining room with chair rails and a sunken living room, both with beautiful hardwood floors. You have a large master bedroom with cathedral ceilings, 2 walk-in-closets and master bathroom with a relaxing soaking tub. Your full, finished basement has a large entertainment room and a custom wet-bar. There are two additional rooms for either an office, guest room or exercise room. Minutes from NYC trains!
For additional pictures and a virtual tour, visit my web-site at www.longhilltownshiphomes.com.
Thursday, October 25, 2007
PRICE REDUCTION - 14 Skyview Terrace, Stirling, New Jersey
$900,000
Location, location, location!!!
Welcome to this beautiful brick front colonial which is located in one of Long Hill Township’s most sought after neighborhood…Stirling Ridge! This home offers a spacious, tiled entry and a large eat-in-kitchen with sliders to a deck overlooking a peaceful backyard. There is a cozy, sunken family room with a brick fireplace, formal dining room with chair rails and a sunken living room, both with beautiful hardwood floors. You have a large master bedroom with cathedral ceilings, 2 walk-in-closets and master bathroom with a relaxing soaking tub. Your full, finished basement has a large entertainment room and a custom wet-bar. There are two additional rooms for either an office, guest room or exercise room. Minutes from NYC trains!
For additional pictures and a virtual tour, visit my web-site at www.longhilltownshiphomes.com.
Location, location, location!!!
Welcome to this beautiful brick front colonial which is located in one of Long Hill Township’s most sought after neighborhood…Stirling Ridge! This home offers a spacious, tiled entry and a large eat-in-kitchen with sliders to a deck overlooking a peaceful backyard. There is a cozy, sunken family room with a brick fireplace, formal dining room with chair rails and a sunken living room, both with beautiful hardwood floors. You have a large master bedroom with cathedral ceilings, 2 walk-in-closets and master bathroom with a relaxing soaking tub. Your full, finished basement has a large entertainment room and a custom wet-bar. There are two additional rooms for either an office, guest room or exercise room. Minutes from NYC trains!
For additional pictures and a virtual tour, visit my web-site at www.longhilltownshiphomes.com.
Friday, October 12, 2007
Beautiful brick front colonial located in the Stirling Ridge section of Long Hill Township!
Location, location, location!!!
Welcome to this beautiful brick front colonial which is located in one of Long Hill Township’s most sought after neighborhood…Stirling Ridge! This home offers a spacious, tiled entry and a large eat-in-kitchen with sliders to a deck overlooking a peaceful backyard. There is a cozy, sunken family room with a brick fireplace, formal dining room with chair rails and a sunken living room, both with beautiful hardwood floors. You have a large master bedroom with cathedral ceilings, 2 walk-in-closets and master bathroom with a relaxing soaking tub. Your full, finished basement has a large entertainment room and a custom wet-bar. There are two additional rooms for either an office, guest room or exercise room. Minutes from NYC trains!
For additional pictures and a virtual tour, visit my web-site at www.longhilltownshiphomes.com.
Monday, July 23, 2007
Market update - Pricing homes to sell
Each and every home that is put on the market will sell if it's priced right! Regardless of the location or the condition of the home, again, every home will sell. It is crucial to get this fact across to our sellers.
We need to make sure that we are thorough in our research of the recent comparable sales and then suggest a price to the seller which makes the home more attractive than its competition.
Let’s get aggressive with broker open houses, public open houses, “just listed” mailers and plenty of internet marketing.
Many Realtors are being faced with sellers that "have to walk away with a certain amount of money out of the sale." We are seeing sellers write a check at the settlement table if they really want to sell. We are also seeing sellers not listen to the advice of their Realtors and they are remaining steadfast on their “have to walk away with” price. These are the homes that are continually expiring.
In our area we are seeing multiple offers on listings if the home is priced correctly, and we are also seeing homes expire which are not priced correctly! Which listings would you rather have?
In the month of June 2007 the following occurred along the mid-town direct train line in New Jersey:
Long Hill Township
New Listings - 17
Under Contract Listings - 07
Sold – 10
Average sales price - $537,000
Berkeley Heights
New Listings – 20
Under Contract Listings - 8
Sold – 20
Average sales price - $638,000
New Providence
New Listings - 16
Under Contract Listings - 10
Sold – 13
Average sales price - $534,000
Summit
New Listings - 31
Under Contract Listings - 20
Sold – 30
Average sales price - $1,307,000
Prepared By:
Dianne Sommers
RE/MAX Classic Group
Serving Long Hill Township (Millington, Stirling, Gillette, Meyersville), Berkeley Heights, New Providence & Summit
We need to make sure that we are thorough in our research of the recent comparable sales and then suggest a price to the seller which makes the home more attractive than its competition.
Let’s get aggressive with broker open houses, public open houses, “just listed” mailers and plenty of internet marketing.
Many Realtors are being faced with sellers that "have to walk away with a certain amount of money out of the sale." We are seeing sellers write a check at the settlement table if they really want to sell. We are also seeing sellers not listen to the advice of their Realtors and they are remaining steadfast on their “have to walk away with” price. These are the homes that are continually expiring.
In our area we are seeing multiple offers on listings if the home is priced correctly, and we are also seeing homes expire which are not priced correctly! Which listings would you rather have?
In the month of June 2007 the following occurred along the mid-town direct train line in New Jersey:
Long Hill Township
New Listings - 17
Under Contract Listings - 07
Sold – 10
Average sales price - $537,000
Berkeley Heights
New Listings – 20
Under Contract Listings - 8
Sold – 20
Average sales price - $638,000
New Providence
New Listings - 16
Under Contract Listings - 10
Sold – 13
Average sales price - $534,000
Summit
New Listings - 31
Under Contract Listings - 20
Sold – 30
Average sales price - $1,307,000
Prepared By:
Dianne Sommers
RE/MAX Classic Group
Serving Long Hill Township (Millington, Stirling, Gillette, Meyersville), Berkeley Heights, New Providence & Summit
Subscribe to:
Posts (Atom)
